Over the weekend, John, an attorney emailed me with a distressing question, “Howcansomeonesteal stocks from your portfolio? What protections do we have in place?”
The question emanated from a New York Times article (https://www.nytimes. com/2025/10/ 03/your-money/iravanguard- merrillacats- fraud.html) dealing with ACAT fraud.
ACAT (Automated Customer Account Transfer) fraud is a clever form of identify theft. It begins with a perpetrator gathering enough information on you to open a new account, pretending to be you.
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